124 High Street, Kings Heath, Birmingham, B14 7LG

A prime freehold retail investment property let to Scrivens

Property details

Type Investment, Retail
Tenure Freehold, subject to the existing tenancy.
Price Please refer
Mail icon

Enquire about this property

Save property
Features
  • Prime retail location on Kings Heath High Street
  • 965 sq ft (89.65 sq m) retail unit
  • Let to Scrivens Limited on a recently renewed lease
  • New five year lease, expiring 10th February 2027
  • Passing rent - £21,350 pax
Location
The property occupies a very prominent position on Kings Heath High Street close to its junction with Silver Street within the prime retail pitch close to the Sainsbury’s supermarket. Major multiple retailers within the immediate vicinity include, Boots, WH Smith, Superdrug, and Poundland. It is also situated close to one of Kings Heath’s main car parks in Institute Road. Kings Heath is a popular residential suburb of Birmingham located approximately 4 miles (6km) south of the City Centre, 25 miles (40km) north of Worcester and 20 miles (32km) west of Coventry. The town lies within 5 miles (8km) from Junction 3 of the M42, which in turn links to the M40 (Junction 3A), the M5 (Junction 4A) and the M6 (Junction 7A).
Description

The property comprises a purpose-built retail unit extending to 965 sq ft (89.65 sq m) trading as Scriven's and fitted out to the tenant’s usual corporate branding. The property is situated in a prime position within the heart of Kings Heath High Street and its bustling retail Centre.

Accommodation
Ground floor retail - 965 sq ft/89.65 sq m
Price
Please refer.
Tenancy
The property is let to Scriven's Limited on a new five year lease from 11/02/2022, expiring 10/02/2027. There is a break clause on 11/02/2025.

Tenant profile - Scrivens Opticians & Hearing Care is a family-owned and family-run business established in 1938. The business now has 170 optical and hearing care branches in the UK, as well as many hearing care outlets in independent opticians and medical centres.
VAT
The property is elected for VAT, although it is anticipated that the sale will be dealt with by way of a TOGC.
EPC
Available upon request.
Legal Costs
Each party are to be responsible for their own legal costs.
Anti Money Laundering
In accordance with anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.